The chopped wave cascade speed control system is a promising lower energy consumption and reduce pollutants discharging technology. Because the electronics and electric devices are adopted to be its kernel component, it is one of the main harmonic sources for the power grid, and consuming lots of reactive power. The analysis and calculation about its harmonics could be used to be evidence of the hazards and burden to the power grid and whether the compensating device is added to or not. In this paper, the current harmonic from it and the characteristics on the harmonics are illustrated in details. The calculation methods about it are presented and summed up. The correctness of the above theory and analysis are validated by the simulation model. In addition, the oscillating current in some special speed range is discussed and probed. The methods and explanations offered are meaningful and worthy for engineering design of the chopped wave cascade speed control system.